Public Policy Bulletin, 2 September 2019

Sep 02, 2019

In this week’s bulletin, read about the Department of Finance’s latest paper on the balance of payments in Ireland. In other updates, the Irish government calls for integration of economic growth and climate action as a key industry priority.

 

Department of Finance paper on balance of payments

The Department of Finance published a paper entitled The Balance of Payments in Ireland – Two Decades in the European Monetary Unit, which examines the trajectory of the current account of the balance of payments in Ireland and its importance as a key macroeconomic indicator. The paper’s key findings include the boom-bust-recovery cycle in Ireland, post-recession household savings trends and Ireland’s position as a net external debtor country.


Wage growth in Ireland increases at fastest pace in a decade

According to the Central Statistics Office’s latest earnings data, average weekly salaries in Ireland have risen from €771.12 in the second quarter of 2019, up from €745.09 a year earlier, representing an annual growth rate of 3.5 per cent. Earnings have increased in 12 out of 13 sectors of the economy examined, with the pace of increase in pay in the private sector outpacing the public sector.


Irish government calls for integration of industry strategy and climate action

Irish Communications, Climate Action and Environment Minister Richard Bruton and Business, Enterprise and Innovation Minister Heather Humphreys outlined the Government’s plans to promote the integration of economic prosperity and the Cimate Action Plan as a key industry priority, at an industry engagement held last week. They reiterated their message through the launch of Pillar 5 of the Future Jobs Ireland initiative, which mainly focusses on preparing Irish businesses and workers for the future, while paving the way for a transition to a low carbon economy.


Northern Ireland coastal project granted more than £800,000 funding

Nine projects across Northern Ireland are set to benefit from a coastal communities funding of more than £800,000 from income generated by marine assets. The Department of Agriculture, Environment and Rural Affairs said the initiative will help boost employment via an environmental apprenticeship scheme and restore tourist attractions and business units.

 

 

Read all our updates in our Public Policy web centre.